New Issue: Barclays prices $585,000 buffered return enhanced notes on Brent Crude via JPMorgan

By Susanna Moon

Chicago, Aug. 2 - Barclays Bank plc priced $585,000 of 0% buffered return enhanced notes due Feb. 2, 2012 linked to Brent crude futures, according to a 424B2 filing with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.

The payout at maturity will be par plus 5.75% for each day that the price of Brent crude is within the barrier range, which is 85% of the initial price at the lower barrier to 117% of the initial price at the upper barrier.

Investors will receive par if the price of Brent crude falls by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.

Issuer:	Barclays Bank plc
Issue:	Buffered return enhanced notes
Underlying commodity:	Brent crude futures contract
Amount:	$585,000
Maturity:	Feb. 2, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 5.75% per day that Brent crude is within the barrier range; par if price falls by up to 10%; loss of 1.1111% per 1% drop beyond 10%
Initial level:	$116.74
Lower barrier:	$99.23, or 85% of initial price
Upper barrier:	$136.59, or 117% of initial price
Pricing date:	July 29
Settlement date:	Aug. 3
Agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	0.5%
Cusip:	06738KQH7

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